THE Tax Appeal Tribunal sitting in Abuja, on Wednesday, fixed May 14 for definite hearing in a suit filed by a company, “M FIFTEEN” Consultants against the Federal Inland Revenue Service (FIRS). The company also dragged the FIRS, before the Tax Appeal Tribunal sitting in Abuja over alleged double taxation. Also joined in the suit […]
Tribunal fixes May 14 for definite hearing in suit filed against FIRS Read More »
The owner of Italian fashion giant Gucci is set to pay a record fine of nearly 1.5 billion euros ($1.7 billion) in a tax evasion case, according to media reports Friday. “Lawyers are still negotiating with the tax authorities over a few hundred million euros, but the fine that the (French luxury) Kering group is
The Chairman and founder of Heirs Holdings, Tony Elumelu, has said that an average business concern in Nigeria pays 48 taxes. He noted that with this trend Nigeria would be unable to keep its investors and entrepreneurs if the issue of multiple taxation was not abolished. He said this in Abuja on Thursday while delivering
Average Nigerian business pays 48 taxes, says Elumelu Read More »
Chairman, Heirs Holdings and Founder, Tony Elumelu Foundation, Tony O. Elumelu has called for far reaching Tax reforms and for the National Assembly to urgently pass the Executive Tax bill into law. Elumelu made this statement as he delivered the keynote address at the 21st Annual Tax Conference of the Chartered Institute of Taxation of
Nigerian Business Owners Groan Under Poor Infrastructure; Ask For Tax Breaks Read More »
The Nigeria Labour Congress (NLC) President, Ayuba Wabba, has warned the Federal Government against any attempt or means to increase the Value Added Tax (VAT). Wabba, represented by NLC Deputy National President and President of Nigeria Union of Teachers (NUT), Dr. Nasiru Idris and Ibrahim Walama, stated this yesterday at the 11th state delegates’ congresses
President Muhammadu Buhari on Wednesday said the Federal Government would deploy dynamic initiatives towards boosting the country’s revenue from taxation. He said this in Abuja at the opening session of the 21st annual tax conference of the Chartered Institute of Taxation of Nigeria. The conference, which is the single largest gathering of tax practitioners in
FG to boost non-oil revenue via aggressive tax collections Read More »
The Rivers State Internal Revenue Service has sealed off the corporate headquarters of the Niger Delta Development Commission in Port Harcourt over unpaid withholding tax allegedly running into N50bn. This is as the NDDC insisted that its records had indicated that they were not indebted to the state government to the tune of N50bn in
Rivers revenue agency seals NDDC office over alleged N50bn tax Read More »
Zenith Bank, United Bank for Africa and 9 other deposit money banks in the country paid more to the government in taxes in 2018 compared to what they paid in 2017 as their profits soared at the end of the last financial year. The 2018 financial results of the banks showed that they had paid
Zenith Bank, UBA, 9 Others Paid More Taxes In 2018 Read More »
The Society of Women in Taxation (SWIT), yesterday, raised concern that 70 per cent of the N5.2 trillion taxes collected in 2018, came from Lagos State alone. The development, which shows a lopsided tax base, is also an indication that the long four-year tax reforms and campaign have less impact in the remaining 35 states
Lagos alone contributed 70% of Nigeria’s N5.2tr tax revenue Read More »
Sovereign Trust Insurance Plc said its profit before tax rose by 167 per cent to N540m in 2018 financial period from the N202m in year 2017. A statement from the underwriting firm said that despite the challenging economic environment that characterised operations of most businesses in the country in 2018, the gross premium written in
Sovereign Trust’s profit before tax rose by 167% Read More »
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